KRAFT v. WISDOMTREE INVESTMENTS, INC.

C.A. No. 10816-CB.

145 A.3d 969 (2016)

Harold KRAFT as Trustee of the Kraft Family Trust, Plaintiff, v. WISDOMTREE INVESTMENTS, INC., a Delaware corporation, Defendant, and Tradeworx, Inc., a Delaware corporation, Nominal Defendant.

Court of Chancery of Delaware.

Date Decided: August 3, 2016.


Attorney(s) appearing for the Case

Stephen B. Brauerman , Vanessa R. Tiradentes and Sara E. Bussiere , Bayard, P.A., Wilmington, Delaware; Attorneys for Plaintiff.

Martin S. Lessner and Lakshmi A. Muthu , Young Conaway Stargatt & Taylor, LLP, Wilmington, Delaware; Jordan D. Hershman and Michael D. Blanchard , Morgan, Lewis & Bockius LLP, Boston, Massachusetts; Christopher M. Wasil , Morgan, Lewis & Bockius LLP, Hartford, Connecticut; Attorneys for Defendant.

Kurt M. Heyman , Proctor Heyman Enerio LLP, Wilmington, Delaware; Michael F. Cockson , Adam M. Nodler and Brad W. Engelsma , Faegre Baker Daniels LLP, Minneapolis, Minnesota; Attorneys for Nominal Defendant.


OPINION

In this case, a stockholder of Tradeworx, Inc. seeks a declaration that shares issued to WisdomTree Investments, Inc. in 2000 are invalid because they were issued in exchange for services to be provided in the future, which was disallowed at the time under certain provisions of the Delaware General Corporation Law...

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